In the strategic plan, Valamar announced ambitious plans to invest EUR 450 million by 2026 in repositioning the hospitality portfolio under management and achieving double-digit annual business growth. With these initiatives in place, operational earnings (EBITDA) are projected to reach EUR 150 million, or an average annual growth of 11% for the period between 2022 and 2026. Dividend yield for the coming period is anticipated at 4%, depending on business performance and share value development.

At Investor Day, Valamar is also highlighting two strategic projects that are currently under construction. Pical Resort 5* in Poreč represents the largest single investment in Croatian tourism and is slated to open in 2026. The luxury resort will offer 514 five-star units, services for family holidays, year-round operation, over 700 jobs, and the largest congress centre in Istria, contributing to the overall development of Poreč as a destination. Meanwhile, Arba Resort 4/5* on the island of Rab, set to open in summer 2025, aims to reposition Rab as a premium family tourism destination, bringing employment opportunities to the island. Both construction sites are progressing on schedule.

Valamar’s financial performance for the first nine months of 2024 saw a notable 12.2% increase in revenue, reaching EUR 390.1 million. Sales grew strongly at a 13.1% growth rate in the pre-season and 11.4% during peak season. However, due to sudden colder weather and unfavourable conditions in September, results for that month remained only on par with the previous year.

For the year 2024, Valamar group expects to generate operating revenues between EUR 411 and EUR 415 million, or annual growth between 10.4% and 11.5%. Operating profit (adjusted EBITDA) will range from EUR 117 million to EUR 120 million, representing an increase of 7.0% to 9.7%. These projections align with Valamar’s company strategy until 2026.

Valamar will provide regular updates on progress and adjust its plans in line with market conditions. Valamar also plans to acquire up to EUR 2 million worth of own shares by the end of 2024, to support a long-term stock incentive programme.